Atala Financial Inc Makes New Investment in Plains All American Pipeline, L.P. (NYSE:PAA)

Atala Financial Inc purchased a new stake in Plains All American Pipeline, L.P. (NYSE:PAA) in the 4th quarter, Holdings Channel.com reports. The fund purchased 21,349 shares of the pipeline company’s stock, valued at approximately $365,000.

A number of other large investors also recently made changes to their positions in the business. Manning & Napier Advisors LLC purchased a new stake in shares of Plains All American Pipeline in the fourth quarter valued at $1,708,000. Stifel Financial Corp grew its holdings in Plains All American Pipeline by 30.6% in the 3rd quarter. Stifel Financial Corp now owns 230,729 shares of the pipeline company’s stock valued at $4,008,000 after buying an additional 54,111 shares during the period. FMR LLC grew its holdings in Plains All American Pipeline by 91.1% in the 3rd quarter. FMR LLC now owns 600,282 shares of the pipeline company’s stock valued at $10,427,000 after buying an additional 286,222 shares during the period. PFG Investments LLC lifted its holdings in shares of Plains All American Pipeline by 47.0% during the 4th quarter. PFG Investments LLC now owns 45,151 shares of the pipeline company’s stock worth $771,000 after acquiring an additional 14,432 shares during the period. Finally, Caprock Group LLC acquired a new stake in shares of Plains All American Pipeline in the fourth quarter worth approximately $591,000. Hedge funds and other institutional investors own 41.78% of the company’s stock.

Plains All American Pipeline Stock Down 1.5 %

Shares of NYSE:PAA opened at $19.26 on Friday. The company has a market capitalization of $13.55 billion, a price-to-earnings ratio of 26.38 and a beta of 1.62. The company has a 50 day moving average of $19.71 and a two-hundred day moving average of $18.25. Plains All American Pipeline, L.P. has a 52-week low of $16.21 and a 52-week high of $21.00. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.64.

Plains All American Pipeline Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 31st were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 7.89%. This is a positive change from Plains All American Pipeline’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Friday, January 31st. Plains All American Pipeline’s dividend payout ratio (DPR) is presently 208.22%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on PAA shares. Wolfe Research raised shares of Plains All American Pipeline from a “peer perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Friday, January 10th. Barclays boosted their price objective on shares of Plains All American Pipeline from $18.00 to $19.00 and gave the company an “underweight” rating in a research note on Thursday, January 16th. Wells Fargo & Company lowered Plains All American Pipeline from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $22.00 to $20.00 in a research report on Wednesday, December 18th. Royal Bank of Canada reissued a “sector perform” rating and set a $19.00 price target on shares of Plains All American Pipeline in a research report on Friday, November 15th. Finally, Raymond James raised their price objective on Plains All American Pipeline from $23.00 to $24.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.14.

About Plains All American Pipeline

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, gathering systems, trucks, and on barges or railcars.